Current Health, which offers the leading FDA-cleared, artificial intelligence (AI)-powered patient management platform, today announced it has closed a £9 million series A funding round led by MMC Ventures.
Legal & General, the FTSE 100 life insurer and asset manager, is Current Health’s first corporate investor and the largest investor in the round as it continues to invest in the future infrastructure of health and care globally. The capital will be used to scale Current Health’s platform, with the goal of preventing illness for one million patients around the world by 2021.
Par Equity and the Scottish Investment Bank, the investment arm of Scottish Enterprise, also participated in this round.
Edinburgh-based Current Health, which was founded in 2015 by CEO Christopher McCann and CTO Stewart Whiting, uses wearable and wireless vital signs monitoring, clinical indicators from an ecosystem of more than 50 integrations and symptoms collected via its patient engagement tools, to continuously track patient health trends. Leveraging proprietary machine learning algorithms, the company’s end-to-end platform analyzes this data to proactively detect illness and alert providers to high-risk patients so they can deliver healthcare earlier.
Today, 13 of the largest healthcare systems in the United States and United Kingdom – including Mount Sinai and Dartford & Gravesham NHS Trust – use Current Health to manage patient care. With the Current Health platform, customers have been able to shorten hospital stays, reduce hospital readmission rates, improve patient satisfaction and deliver better patient outcomes.
Current Health has secured three FDA 501(k) clearances for its platform and proven the value of its solution in some of the most demanding and respected healthcare systems in the world. In the past 12 months, it has also:
– Grown revenue by more than 300%